Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
AO failed to conduct proper inquiry regarding alleged bogus long term capital gain by not examining bankers, brokers, Demat agencies involved in transactions, ascertaining source of funds, verifying synchronized trades, summoning person who deposited cheques in assessee's account. Connivance of bankers, brokers, Demat agencies suspected in such scams. AO directed to make larger inquiry, summon relevant parties, determine real income and rightful assessee. Matter remanded to AO for fresh adjudication after due inquiry, providing fair opportunity to assessee. Appeal allowed.
AO failed to conduct proper inquiry regarding alleged bogus long term capital gain by not examining bankers, brokers, Demat agencies involved in transactions, ascertaining source of funds, verifying synchronized trades, summoning person who deposited cheques in assessee's account. Connivance of bankers, brokers, Demat agencies suspected in such scams. AO directed to make larger inquiry, summon relevant parties, determine real income and rightful assessee. Matter remanded to AO for fresh adjudication after due inquiry, providing fair opportunity to assessee. Appeal allowed.
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